Temas Resources announces $1.5 million private placement

Temas Resources Corp. (CSE:TMAS)(OTCQB: TMASF)(ASX:TIO) announced a non-brokered private placement to raise CDN $1.5 million through flow-through shares priced at CDN $0.18 per share.

The Vancouver-based company stated the proceeds will fund eligible Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures at its La Blache and Lac Brule titanium projects in Quebec. The exploration work must be completed by December 31, 2027, with qualifying expenditures to be renounced to subscribers by December 31, 2026.

The offering requires approval from the Canadian Securities Exchange. Securities issued under the placement will be subject to a four-month and one-day hold period following the closing date.

Temas Resources operates as a technology-driven critical minerals company with a dual business model combining proprietary processing technology and mineral asset ownership. The company owns 100% of two titanium-vanadium-iron projects in Quebec and has developed what it calls Regenerative Chloride Leach technology for metal extraction processes.

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